Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins improved 71 basis points sequentially at 26.3 per cent from 25.6 per cent in June quarter (Q1FY21). Profit after tax (PAT) declined 32 per cent at Rs 34.08 crore against Rs 50.18 crore in Q1FY21. On year-on-year, PAT jumped 27.8 per cent from Rs 26.67 crore in Q2FY20.
On PAT, the company said, in the immediately preceding quarter instead of a provision for Income-tax it had a one-time credit for deferred taxes and from the current quarter we have reverted to normal provisions.
The stock of the information technology (IT) & software firm touched its lowest level since its listing on September 17, 2020. With today’s fall, the stock was down 28 per cent from its high of Rs 395 touched on listing day. The company had raised Rs 702 through initial public offering (IPO) by issuing shares at Rs 166 per share. The IPO had received strong response from all catergories of investors.
HMT is a digital IT and product engineering service provider that positions itself as “Born Digital. Born Agile”. The company focuses on delivering a seamless and end-to-end digital experience to customers. Its key service offerings include digital business, product engineering services, infrastructure management services and security.
At 11:14 am, the stock had erased partially its early morning losses and was trading 5 per cent lower at Rs 331.75 on the BSE, against 1.4 per cent rise in the S&P BSE Sensex. A combined 1.7 million equity shares had changed hands on the counter on the NSE and BSE.
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